Comments on: Verizon protests business sale lawhttp://libn.com/2010/06/30/verizon-protests-business-sale-law/
The premier source of Long Island news and data on business, economic trends and the region’s robust entrepreneurial sector.Thu, 08 Dec 2016 21:23:26 +0000hourly1https://wordpress.org/?v=4.6.1By: Michael Gendronhttp://libn.com/2010/06/30/verizon-protests-business-sale-law/comment-page-1/#comment-47362
Fri, 02 Jul 2010 15:39:00 +0000http://libn.com/?p=43368#comment-47362This is not stupid. You should do some research and find out why a law like this was presented in the first place. If you had, you would have learned about Verizon’s sales in the past, like the one in Hawaii and the recent one in New England to Fairpoint. These sales were done, using a tax code called Reverse Morris. This tax code required Verizon to make the sale to a smaller company through a bogus merger to a bogus subsidiary, leverage the sale with tremendous debt, and give Verizon controlling stock in this new company. The best part of all, its done tax free. This new company has so much debt that they can not put any investment into upgrading their plant, either the existing copper plant or an upgrade for broadband access. What has happened in every case has been bankruptcy for the new company. This has resulted in terrible service standards for the residents, investors getting pennies on the dollar for the stocks they hold in this new company, and the workers facing layoffs and loss of pay and benefits.
This bill would not have affected a company in any way with their present operations, it only would have an impact if they tried to sell. It only would have provided protection to the consumers, workers and retirees by making sure that if a sale occured, the PSC would ensure, through public hearings, that this sale would be a benefit to all concerned.
Jim Gerace is a bit hypocritical when he speaks of who wants Verizon to be the State’s largest employer. I know it isn’t Verizon that wants to be, because they have been laying off workers, using contractors more and more( in contractual violation many times), and declaring a majority of their workforce surplus for the purpose of getting them off the payroll.
Verizon’s actions over the last few years have given every indication that they want nothing to do with the traditional phone business and they don’t care who they hurt as they rid themselves of it.
]]>By: Bill Lauhttp://libn.com/2010/06/30/verizon-protests-business-sale-law/comment-page-1/#comment-47209
Wed, 30 Jun 2010 21:46:33 +0000http://libn.com/?p=43368#comment-47209Thisis the stupidest thing I have ever heard. Why would any want to be in business in NY?
]]>By: Douglas C.Manditchhttp://libn.com/2010/06/30/verizon-protests-business-sale-law/comment-page-1/#comment-47202
Wed, 30 Jun 2010 20:19:36 +0000http://libn.com/?p=43368#comment-47202It seems that every elected offical is only interested in taxing, spending and absolute control over every area of our liberty, be it who fails, who surveys what we eat, etc., maybe it is time to re-elect no one!
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